TVA reports $5.9m loss in Q1
Media | 05/07/2013 6:08 pm EDT
Quebecor Media Inc. subsidiary TV Group Inc. reported a net loss of $5.9 million in the first quarter of 2013 despite improved operating incomes in its TV and publishing segments, TVA said in an earnings report Tuesday.
In a release, TVA said its television division generated $663,000 in operating income in the first quarter, up from a loss of $4.96 million during the same period a year earlier. The improved earnings, the company said, resulted from the “positive impact” of deconsolidating the financial results of its Sun News channel, and from a $1.74 million rise in operating income across its over-the-air TVA Network “despite a 7.6% decline in advertising revenues.”
“Our French-language specialty services registered a 23.4% increase in subscription revenues, confirming the growing popularity of our specialty services and their content,” Pierre Dion, TVA’s president and CEO, said in the release. “We are also very pleased by the audience response to 'La Voix,' which drew an average
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